Countrywide’s real estate loan production down

Get Inman via Facebook MessengerOur top headlines delivered once a day. by CareyBot

Countrywide Financial Corp.'s mortgage loan fundings for June were $42 billion, down 11 percent from a year ago, the company announced today. Second-quarter-2006 funding volume totaled $117 billion, a decline of 3 percent from the same period last year. But the Calabasas, Calif.-based company said year-to-date loan fundings are still up 4 percent from last year at $220 billion. Monthly purchase volume was $21 billion, a 12 percent drop from the $24 billion reported for June 2005. Purchase activity for the second quarter of 2006 totaled $55 billion, down 9 percent from the same year-ago period. Year-to-date purchase activity is essentially unchanged at $102 billion. Adjustable-rate loan fundings for June were $20 billion, a 23 percent decline from June 2005, and bringing adjustable-rate p...